Genting Hong Kong, a part of Genting Group, has received a green light from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed voluntary delisting from the Main Board of the SGX-ST.
Genting Hong Kong has a primary listing on the Main Board of the HKSE, and a secondary listing on the SGX-ST. Following the proposed delisting, the company will continue to maintain a primary listing on the Main Board of the HKSE.
The company said that the move is in line with its strategic focus on its cruise ship business in Asia, in particular, North-Asia, as the company continues to undertake initiatives to tap the burgeoning growth potential in the Chinese market.
“Genting Hong Kong’s proposed delisting from the SGX-ST comes after careful consideration and is in line with our growth strategy and plans to enhance value for all our shareholders in the long term. Maintaining a single primary listing on the Main Board of the HKSE will potentially increase the trading of the company’s shares on the HKSE, which will enhance the Company’s profile amongst North-Asian investors ,” Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer of Genting Hong Kong, said.
“The consolidated trading of the company’s shares on the HKSE arising from the proposed delisting is also expected to increase the liquidity of such shares on the HKSE, thereby improving the effectiveness of any future capital raising activities to be undertaken by the company.”
After the delisting, shares will only be traded on the HKSE, the company said, adding that the voting rights and entitlement to dividends of shareholders will not be affected by the proposed delisting.